Take charge of your money on payday with two linked accounts to help you budget
Savings & Transaction offers
4.75 % P.A.
Total
variable rate
with online offer
4.75% p.a. Total variable rate with online offer
Earn up to 4.75% p.a. with a variable base rate of 0.40% p.a., a variable bonus* rate of 4.25% p.a., and an extra 0.10% p.a. to your variable bonus rate for the first 3 months when you open online. New customers only on balances remaining below $250,000. After 3 months the total variable rate will apply.
New customers only. Excludes joint accounts. Online bonus offer available for limited time only.
T&Cs apply#
$50
cashback on
your new account
Open a new Complete Freedom account by 30 September 2025. Add your new Bank of Melbourne Visa Debit Card to your mobile wallet.
Within 15 days of opening your account, spend a total of at least $50. The purchase(s) must be in person and contactless.
Then, within 60 days of you meeting the spend requirements, you’ll receive $50 in your Complete Freedom account.
Customers aged 18+ only. T&Cs apply*
What you get
Visa debit card
Access your everyday account wherever Visa is accepted1
Internet banking
Manage your money online wherever you are, whatever you're doing
Automatic transfers
Set up monthly deposits from your everyday account into your savings account via online banking
Spend tracker
All your transactions grouped into categories, to help your track your spending habits
Card Lock
Misplaced your Visa debit card? Temporarily lock your card for up to 15 days while you look for it
Fees you might pay
Complete Freedom
-
$0.00 Account-keeping fee
-
$5.00 Overseas withdrawal fee ($0 when you use our Global Alliance ATM )
-
3.0% Foreign currency conversion
-
Free Periodical payment
-
$0.00 Frequent statement (request statement outside of cycle)
Incentive Saver
-
Free Account-keeping fee
-
$5.00 Overseas withdrawal fee ($0 when you use our Global Alliance ATM )
-
3.0% Foreign currency conversion
-
Free Periodical payment
-
Free Frequent statement (request statement outside of cycle)
In detail
How to open accounts with us
Download our app
1. To be eligible for a Visa Debit Card, you must have an Australian residential address and be 14 years old or over.
# Incentive Saver offer: Grow your account balance by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21), excluding interest paid, ensuring your account balance remains between $0 - $249,999.99.
*The $50 Cashback Promotion Terms and Conditions
This promotion runs from 30 June 2025 to 30 September 2025.
To be eligible you must:
- Be 18 years of age or older
- Not have held a transaction account with Bank of Melbourne in the last 2 years (applies to both account holders for joint accounts)
- Open a new Complete Freedom account (excludes Concession account) with a linked Visa Debit
- Add your new Visa Debit to a mobile wallet. Then, within 15 days of opening your new account use it to make in-person contactless payments that:
- Total $50 or more
- Are settled (not pending).
- Keep the account open for a minimum of 60 days after your eligible contactless payment.
Transactions that are not eligible:
- Using the physical card in-store, online or in-app
- ATM transactions
- BPAY
- EFTPOS cash out only transactions
- Gambling transactions
- Transactions made by credit card.
If you meet the above:
- You're eligible for a one-time $50 payment, regardless of the number of accounts you hold
- The $50 payment will be made to your Complete Freedom account within 60 days of you meeting all Terms and Conditions and eligibility criteria.
- If you open more than one Complete Freedom account, the $50 cashback will be made to one account only. It will be to the first one opened and active, whether a sole or joint account.
This promotion may be varied or withdrawn at any time. It is available in conjunction with any other offer.
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